Texas Chemical Plant Fire Brought Under Control

AUSTIN, Texas , NOV. 29 —Officials lifted evacuation orders Friday for around 50,000 people on the Texas Gulf Coast, determining a massive fire was finally under control at a chemical plant rocked by two major explosions three days earlier. “We …

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More Storms. Less Damage. But 2019’s Slow Hurricanes Leave Sense of Foreboding.

The Atlantic Ocean has spawned lots of storms this season while doing much less damage than prior years. But warming waters promise trouble ahead. The 2019 Atlantic hurricane season, which ends Nov. 30, has been the eighth most-active in named …

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Dive Boat on Which 34 Died in Southern California Exempt From Safety Rules

The diving boat that caught fire on Labor Day off Southern California, killing 34 people, was among hundreds of small vessels exempted by the U.S. Coast Guard from stricter safety rules designed to make it easier for passengers to escape, …

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Wholesale Broker H.W. Kaufman Acquires London-Based MGA Barbican Protect

H.W. Kaufman Group, the Farmington Hills, Mich.-based wholesale broker and managing general agent, announced the acquisition of Ltd., as part of its continued expansion into the U.K. market, subject to regulatory approval. Purchased from Barbican Insurance Group for an undisclosed …

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Wildfire Crisis is Roiling California’s Insurance Market

Lauris Bye, a homebuilding industry veteran who moved to Southern California’s wildfire-prone hills decades ago, felt confident about the newly built house he was buying about 30 miles north of downtown Los Angeles. It had safety features tucked into the …

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Brightway Insurance Franchise Owners Pojero, Jones Open Second Store in Florida

Veteran Brightway Insurance Franchise Owners David Pojero and David Jones have expanded their business enterprise with a second Brightway store in Central Florida. The business partners opened their first Brightway office in Longwood in 2012 and are the new owners …

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Kentucky Officials Received Calls About Gas Smell Before Explosion

Kentucky officials received calls complaining about the smell of gas before an explosion that killed two people at a home near the rural community of Campton on Saturday. Wolf County Emergency Management Director Marcus Stephens told WLEX-TV that someone at …

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Thanksgiving Risk Management Alert: Don’t Wash That Turkey!

Go ahead and rinse your cranberries, potatoes and green beans. But food say experts say don’t — repeat don’t — wash the turkey before popping it in the oven on Thanksgiving Day. They say that could spread the germs lurking …

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Insurance Companies Sue Government Over Gatlinburg Fire

More than 40 insurance companies sued the federal government last week over its handling of a 2016 Tennessee wildfire that killed 14 people and destroyed or damaged more than 2,500 buildings in Sevier County. The Knoxville News Sentinel reports the …

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Marsh Hires Crain as HealthCare Practice Leader for Northeast Zone

Marsh, an insurance broker and risk adviser, has hired Ethan Crain as HealthCare practice leader for the Northeast zone. Based in Boston, Mass., Crain reports to Chris Roak, Northeast zone leader. In this newly created role, Crain is responsible for …

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Maine’s The MEMIC Group Hires LaCrosse, Romano

Jason LaCrosse has been appointed a safety management consultant by Portland, Maine-headquartered workers’ compensation specialist The MEMIC Group. LaCrosse began his career in the military, starting off as a flight medic before becoming a blackhawk instructor pilot and aviation safety …

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AXA XL Buys London-Based Title Insurance Agency, Agrees to Buy Mexico Title Insurer

AXA XL announced it has completed the acquisition of Secure Legal Title Ltd., a London-based insurance agency and Lloyd’s approved coverholder, with operations in the U.K., Europe, India and the Americas. Founded in 2012, Secure Legal Title provides insurance to …

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Bankrupt Philadelphia Refiner Seeks $2.5M in Executive Bonuses

The bankrupt Philadelphia Energy Solutions oil refiner is seeking a minimum of $2.5 million in bonus payments to the refiner’s top executives as part of a plan to reorganize or sell the company, U.S. bankruptcy court filings show. This would …

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Senate Democrats’ Bill Would Establish Consumer Rights Over Internet Data, Privacy

Democratic senators proposed legislation on Tuesday that would set penalties for online companies like Alphabet Inc.’s Google and Facebook Inc. if they mishandle users’ personal data. The measure comes at a time when the luster of the Big Tech platforms, …

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Uber’s London License Ban Marks Global Regulatory Backlash for Ride-Hailing Firms

Uber Technologies Inc. and its rivals disrupted global transport, riding on a lack of regulation to drive exponential growth. Now, regulators are closing in. London’s transport authority banned Uber for a second time on Monday, citing concerns about customer safety …

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MS Amlin Launches New Operating Model and Senior Leadership Team

MS Amlin, the London-based re/insurer, announced a new operating model and senior leadership team in response to the recent decision by its parent company, MS&AD, to reorganize its international businesses. This reorganization involves the removal of the regional holding company …

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Germany’s Green Vault Museum Finds It’s Uninsured for $1 Billion Theft of Jewels

By Stefan Nicola A day after burglars made off with priceless jewels from a German museum, pressure is growing on police to find the culprits. One big reason: The diamond-encrusted dagger, pearl necklace, and dozens of other glittering artifacts—estimated to …

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Lawyer Says OSHA Looking into Arrest of Worker in New Orleans Hotel Collapse

The Occupational Safety and Health Administration is investigating allegations that the immigration arrest of a construction worker hurt in the collapse of the Hard Rock Hotel construction site in New Orleans was retaliation for his reports about problems at the …

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Texas Orthopedic Surgeon to Pay $300K to Settle False Claims, Kickback Case

The U.S. Attorney’s Office for the Northern District of Oklahoma reported that a Texas surgeon has agreed to resolve False Claims Act allegations that he accepted illegal kickback payments from OK Compounding LLC for $300,000. This is the twelfth kickback …

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Post-Tornado ‘Green’ Rebuild Considered a Mixed Success in Greensburg, Kansas

A dozen years after a tornado nearly wiped out Greensburg, Kansas, city leaders acknowledge that the decision to rebuild as “the greenest community in America” has been a mixed success. The E-5 tornado on May 4, 2007, killed 11 people …

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Gordon, Reynolds Promoted Within Great American’s Property/Casualty Group

Cincinnati, Ohio-based Great American Insurance Group has promoted Roy Reynolds to divisional president and Garry Gordon to divisional senior vice president within its Property & Casualty Group, Mergers & Acquisitions (M&A) Liability Division. Reynolds joined Great American in December 2015 …

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Confie Rebrands Its Standard Business as InsureOne; Retains Freeway Brand for Nonstandard

Confie, a national agency for personal and commercial lines insurance, has consolidated its standard personal and commercial Insurance businesses across the U.S. into one entity named InsureOne. While the InsureOne brand will be used for national standard lines accounts, the …

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Farewell 2019 Atlantic Hurricane Season: 18 Storms, 6 Hurricanes

The 2019 Atlantic hurricane season, which ends on November 30, was marked by tropical activity that churned busily from mid-August through October, according to the National Oceanic and Atmospheric Administration (NOAA). The season produced 18 named storms, including six hurricanes …

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Lawmakers Question Airbnb Over Rental Listings in Violation of Local Laws

U.S. lawmakers are asking Airbnb Inc. to provide information about hosts that list short-term rentals on the site who don’t comply with local laws and violate the company’s own policies. In a letter to Airbnb Chief Executive Officer Brian Chesky, …

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Vegan Suing Burger King Over Its ‘Impossible Whopper’ Has a Real Beef: Viewpoint

Is it really true that Burger King’s new Impossible Whopper is, as the ads claim, “100% Whopper, 0% beef”? A lawsuit just filed in federal court in Florida insists that the answer is no. The answer matters. The Impossible Whopper, …

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$8.5M in Washington Foster Care Sex Abuse Case

Washington state will pay two children $8.5 million after they claimed the state Department of Social and Health Services failed to protect them from sexual abuse by their foster parent. The children sued the agency in Snohomish County Superior Court …

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Digital MGA C-Quence Joins with Insurtech Cytora to Transform Mid-Market Cover

C-Quence, the digital managing general agent (MGA), and Cytora, the insurtech startup that operates an artificial intelligence-powered platform, are joining forces to “turbocharge innovation” in commercial property & casualty (P/C) underwriting. C-Quence will launch its P/C suite in January using …

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McDonald’s Will Pay $26 Million to Settle California Wage, Overtime, Break Claims

McDonald’s Corp. agreed to pay $26 million to settle a nearly seven-year-old lawsuit accusing the fast food chain of underpaying U.S. staff at its corporate-owned restaurants in California. The preliminary settlement resolves claims that the company used a timekeeping system …

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Online Scams Are Catching Newly Vulnerable Icelanders Unprepared

“Hi, I hope you are not busy?” The treasurer of the Icelandic soccer club Afturelding got the email from his manager late in the afternoon, soon before banks were about to close. The words “Sent from my iPhone” were at …

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AXIS Capital’s Losses from Japan’s Typhoon Hagibis Estimated at $90M-$110M

AXIS Capital Holdings Ltd. announced a preliminary pre-tax loss estimate for Japanese Typhoon Hagibis in the range of $90 million to $110 million, net of estimated recoveries from reinsurance and retrocessional covers, and including the impact of estimated reinstatement premiums. …

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Health Department Links Salmonella Outbreak to North Carolina Restaurant

Health officials say a barbeque restaurant in North Carolina may have sickened about a dozen people with salmonella. A press release from the Nash County Health Department says the operating permit for Doug Saul’s Bar-B-Que & Seafood in Nashville, N.C., …

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Explosion at Dippin’ Dots Production Facility in Kentucky Injures Four

Authorities say an explosion at the Dippin’ Dots production facility in Kentucky has injured four people. Dippin’ Dots CEO Scott Fischer says the explosion occurred in a production area around 10 p.m. Friday evening. Fischer said in a release that …

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Florida Investigating Attorney Charged with Lawsuit Fraud

The Florida Bar has opened an investigation of a New York lawyer who it says may have been practicing in Florida without a license. The Bar’s investigation of Stuart Finkelstein stems from federal charges this week alleging that he filed …

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Massachusetts Attorney General Issues Asbestos Safety, Enforcement Report

Massachusetts Attorney General Maura Healey has released a report highlighting her office’s ongoing efforts to protect children, families and workers from the health risks posed by exposure to asbestos. The report highlights the work of AG Healey’s “Healthy Buildings, Healthy …

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BHSI Taps Warrior, Formerly with Hiscox, as Head of D&O Underwriting, UK & Ireland

Berkshire Hathaway Specialty Insurance (BHSI) announced that it has expanded its European team with the addition of Chris Warrior as head of directors’ & officers’ liability underwriting for UK & Ireland. Warrior comes to BHSI with 36 years of experience …

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Massachusetts Police Warn of “Power” Heroin After Nine Overdoses in 16 Hours

Police in one Massachusetts community have issued a warning about a particular kind of heroin after responding to nine overdoses in 16 hours. Holyoke, Mass., police said Saturday that they believe each of the people who overdosed on Friday had …

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Vermont Seeks Storm Damage Assessment of Private Property

Vermont is asking the Federal Emergency Management Agency to assess damage to private property from a storm beginning on Halloween to determine if the state qualifies for federal aid for homeowners and renters. The state says 323 Vermont homeowners and …

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Thieves Steal Priceless Items from Dresden’s Treasury Green Vault; Hiscox Comments

Thieves have carried out a heist at Dresden’s Green Vault, one of the world’s oldest museum containing priceless treasures and jewels, German officials said Monday. The treasury of Augustus the Strong of Saxony was established in 1723 and today contains …

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AIG to Sell Most of Fortitude Re to Carlyle, T&D Holdings for $1.8 Billion

American International Group plans to sell the bulk of Fortitude Re to private equity firm The Carlyle Group and Japanese insurer T&D Holdings for $1.8 billion. Plans call for a newly created Carlyle-managed fund and T&D Holdings to acquire from …

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Missouri Contractor Faces $210K in Penalties for Workplace Safety Hazards

Federal workplace safety officials have proposed $210,037 in penalties against a Missouri contractor protect employees from trench collapse and electrical hazards. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) inspectors observed workers exposed to trenching and excavation …

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Texas McDonald’s Franchisee Settles Sex Harassment Lawsuit for $340K

A McDonald’s franchise owner with locations in Texas pay $340,000 and furnish other relief to settle a federal sexual harassment lawsuit. The U.S. Equal Employment Opportunity Commission (EEOC) alleged in its lawsuit against Credle Enterprises LLC, which does business as …

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Spicer Joins Jewelers Mutual Leadership Team in Wisconsin

Neenah, Wisconsin-based insurer, Jewelers Mutual Group, has added Larry Spicer as vice president of Loss Prevention and Risk Management Services as David Sexton prepares for retirement after 39 years with Jewelers Mutual. Sexton steps down at the end of the …

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Texas Agency RHSB Adds Ausmus as Account Manager, Personal Client Services

Dallas-based independent insurance brokerage firm RHSB (Roach Howard Smith & Barton) has hired Cindy Ausmus as account manager in its Personal Client Services department. Ausmus replaced long time employee Liz O’Neall who retired in September. Ausmus has over 30 years’ …

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E-Cigarette Maker Juul Pulled Into Tobacco Product Liability Case

A Florida state court judge ordered the co-founder of the e-cigarette maker Juul Labs Inc. to answer questions under oath in a case involving a woman suing the cigarette-maker Philip Morris USA. While Juul has challenged the judge’s order, it’s …

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FEMA Envisions High-Tech Flood Insurance Program Using Parametrics, Blockchain

Blockchain technology and parametric insurance should be included in the Federal Emergency Management Agency’s toolbox as it strives to close the nation’s flood insurance coverage gap, according to a draft report by an advisory committee that makes recommendations to the …

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Can Ethics Be Taught? Study Assesses Ethics Training on Financial Sector Behavior.

Can ethics be taught? New research suggests yes, while offering the first large-sample study on how rules and ethics training affects behavior and employment decisions in the financial sector. “Can Ethics be Taught? Evidence from Securities Exams and Investment Adviser …

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Why E&S Carriers Aren’t Winners Over the Long Term

]ACORD’s recent study, “Intelligent Growth: Intent, Decisions, Outcomes,” reveals that E&S/specialty companies don’t fare well over the long term. Here, CEO Bill Pieroni suggests possible reasons in an interview with Wells Media’s Andrew Simpson. Q: You talked about the winners …

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Confessions of a Diehard Data Fan: Part 2

After Bill Pieroni, the CEO of ACORD, delivered a presentation about ACORD’s latest study, “Intelligent Growth: Intent, Decisions, Outcomes,” he sat down with Wells Media’s Andrew Simpson to talk about winning carrier strategies. Pieroni, who discussed carrier growth and profit …

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Sexual Abuse Victims Claim Catholic Church Pressured Them Into Unfair Settlements

Two impoverished Mississippi men who say they were sexually assaulted by Franciscan missionaries filed a federal lawsuit Thursday claiming that Catholic officials pressured them into signing settlements that paid them little money and required them to remain silent about the …

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Fox Countersuit in Harassment Case Not Retaliation, Judge Rules

Fox Broadcasting Co. didn’t illegally retaliate with a breach-of-contract claim against a former executive who sued after he was fired for alleged sexual harassment, a judge ruled. New York Supreme Court Justice Saliann Scarpulla in Manhattan rejected Cliff Pozner’s retaliation …

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Authorities Say Amtrak Train Hits Vehicle in Florida, Three Dead

Authorities say three people in Florida were killed in a vehicle that collided with an Amtrak passenger train, but no passengers aboard the train were hurt. Palm Beach County Fire Rescue told news outlets the crash happened about 2 p.m. …

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Kentucky Police Say Three Workers Hit by Vehicle in Construction Zone

Kentucky State Police say a vehicle has struck three workers in a construction zone on the Bluegrass Parkway near Lawrenceburg, Kentucky. A statement from police says it appears that 18-year-old Dillan Waldridge of Willisburg entered the construction zone to avoid …

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Florida Woman Found Guilty of Hurricane Irma Relief Fraud

A Florida woman has been convicted of fraudulently obtaining Hurricane Irma disaster relief money. Court records show that 37-year-old Karen Latrice Houston was convicted by a jury in Tampa federal court this week of three counts of theft of government …

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Tests Reveal High Level of Radioactive Gas in Alabama Public Housing

Huntsville, Ala., housing officials aren’t saying what they will do about independent testing that found high levels of radioactive gas in public housing. Al.com reports that the testing found high levels of radon in apartments owned by the Huntsville Housing …

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Massachusetts Lawmakers Pass Ban on Flavored Vaping, Tobacco Products

Massachusetts lawmakers passed a groundbreaking ban Thursday on the sale of flavored tobacco and vaping products, including menthol cigarettes. The bill would also place a 75% excise tax on vaping products and require health insurers, including the state’s Medicaid program, …

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Drzik, Marsh’s President, Global Risk and Digital, to Step Back From Full-Time Role

Marsh, the insurance broker and risk adviser, announced that John Drzik, president, Global Risk and Digital (GR&D), will step back from full-time responsibilities as leader of GR&D effective Jan. 1, 2020, but will remain involved with the business as a …

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DeCotis Specialty Insurance Hires Jones as Director of Marketing

DeCotis Specialty Insurance has hired Robert Jones as director of Marketing. In this position, Jones is responsible for expanding awareness of the company’s services and value beyond its existing footprint in the New England and Mid-Atlantic regions. Jones brings more …

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Trump Regulatory Rollback Targets Safety Rules Prompted by Industrial Disasters

The Trump administration’s move to relax an Obama-era chemical safety regulation put in place after an explosion at a fertilizer plant is the latest example of the White House easing rules established in the wake of disasters. Trump’s professed goal …

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Chubb to Buy Additional Stake in China’s Huatai Insurance for $1.53B

Insurer Chubb Ltd said on Monday it will buy an additional 22.4% stake in Chinese insurer Huatai Insurance Group Co. Ltd. for 10.8 billion yuan ($1.53 billion). Chubb, which already holds nearly 27% stake in Huatai, said it would first …

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Extreme Weather in Greece Brought $1.1 Billion in Crop Damages Since 2011

In the hills of northern Greece, peach farmer Makis Antoniadis is sweating in unseasonably warm November weather as he toils with his most recent harvest. It might be one of his last. Already grappling with the effects of climate change, …

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Generali Prepares to Make Formal Bid for MetLife’s European Assets: Sources

Assicurazioni Generali SpA is preparing to make a formal bid for the European assets of MetLife Inc. following months of talks, people with knowledge of the matter said. The Italian insurer has been finishing due diligence and aims to make …

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Uber Loses London License for Failures on Safety and Security

The Uber ride-hailing service was stripped of its London operating license on Monday for the second time in just over two years, subject to appeal, after the regulator found a “pattern of failures” on safety and security. A change to …

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Philippines Taps Catastrophe Bonds to Help Pay for Natural Disasters

The Philippines, among the world’s most disaster-prone nations, sold its maiden foreign-currency catastrophe-linked bonds to help cover costs of major calamities, in conjunction with the World Bank. The dual-tranche transaction consists of a $150 million issuance against losses from tropical …

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AM Best Withdraws Credit Ratings of Members of Wisconsin County Mutual Group

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb” of Community Insurance Corporation and Wisconsin County Mutual Insurance Corp., both domiciled in Madison, Wisconsin. They are collectively referred to as …

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Oklahoma AG to Appeal Judge’s Opioid Ruling in J&J Case

Oklahoma Attorney General Mike Hunter says he plans to appeal a judge’s order directing consumer products giant Johnson & Johnson to pay the state $465 million to help address the state’s opioid crisis. Hunter said the judge’s final order only …

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Pankotai Joins IMA in Dallas as Team Sr. VP, Director of Client Services

IMA Inc., a national insurance broker specializing in property/casualty insurance, employee benefits and surety bonds, has added Donna Pankotai in its Dallas office as team senior vice president and director of Client Services within its property/casualty division. With more than …

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Texas-Based Sales and Marketing Company to Settle Disability Lawsuit for $2.65M

A Plano, Texas-based international sales and marketing company that provides food demonstrators to major American retailers and warehouse stores, will pay $2.65 million and furnish other relief to settle a federal disability discrimination lawsuit. The U.S. Equal Employment Opportunity Commission …

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Home Insurance Insurtech Hippo Buys Home Services Startup Sheltr

Digital home insurance managing general agency Hippo Insurance has acquired an early-stage startup in a bid to beef up its digital home insurance services for clients, Carrier Management reported. The insurtech said it acquired Sheltr, a San Francisco-based tech-enabled services …

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ACORD Study Results: Loser Lessons

As for the waning carriers, why did they wane? Why didn’t they grow and why did they achieve inferior economics? Pieroni said there are a number of reasons but the top ones include inability to execute change. The researchers reviewed …

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How ‘Intelligent’ Insurers Grow and Create Value: ACORD Study

Some insurance carriers grow but do not create value. Others shrink but still create value. Some fail at both. Then there are the “intelligent growers”—those that succeed at both, not only growing but also creating value. Intelligent growers— that’s the …

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Confessions of a Diehard Fan of Data: An Interview With ACORD CEO Pieroni (Part 1)

If Bill Pieroni were a Major League Baseball executive, he would be one of those sabermetric types like Oakland’s Billy Beane, heralded by the book “Moneyball.” His team’s manager would have spreadsheets on an iPad, and his team would use …

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Boeing Settles More Than 60 Wrongful Death Cases Filed After Lion Air Crash

A Boeing Co. lawyer said the aircraft maker has reached settlements in more than 60 wrongful death cases filed after a 737 Max 8 plane flown by Lion Air crashed in Indonesia last year, killing all 189 people aboard. Attorney …

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Magnitude 3.5 Earthquake Confirmed in Washington

The Pacific Northwest Seismic Network confirmed a magnitude 3.5 earthquake struck the region near Coulee City and Grand Coulee Dam in eastern Washington state. The network reported the earthquake struck about 8:48 on Monday morning. KREM-TV reports the earthquake was …

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Hospital in Washington Addresses Mold Infections, Deaths

Executives at a Washington state children’s hospital have found additional patient deaths from a mold infection after taking a closer look at their records. KING-TV reported Tuesday that Seattle Children’s CEO Jeff Sperring announced Monday that they looked at their …

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Oregon City Paying $350K Linked to Earthquake Warning Sign Suit

Portland has agreed to pay $350,000 in attorneys’ fees related to a now-repealed policy that mandated warning signs on brittle brick buildings saying they are seismically unsafe. The Oregonian/OregonLive reported the Portland City Council voted 4-0 Wednesday to pay the …

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Video Shows Lyft Driver Dragging Woman from Car in California

Los Angeles police say they’ve cited a Lyft driver for misdemeanor battery after video showed him dragging a passenger out of a car. Alessandra Ward says she suffered a black eye, bruises and a possible concussion after the man pulled …

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The PURE Group of Insurance Companies Appoints Hourihan SVP, Chief Growth Officer

The PURE Group of Insurance Companies, which includes Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for high-net-worth individuals and families, has appointed Jerry Hourihan as senior vice president and chief growth officer. Hourihan will be …

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Brightway Insurance Promotes Spendley to VP of Accounting Operations

Brightway Insurance, an insurance retailer and personal lines insurance agency, has promoted Jess Spendley to vice president of Accounting Operations. In this role, Spendley joins the executive team of the franchiser. Spendley started at Brightway as an Accounting intern while …

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More Than $270K in Fines Issued Against Firms in Massachusetts, Pennsylvania

Investigations by the Connecticut Department of Labor’s Wage and Workplace Standards Division into complaints of workers being improperly employed at a large poultry plant in Bozrah has led to fines of more than $270,000 and hundreds of violations against the …

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Study Says Medical Payments Per Workers’ Comp Claim Decreased in North Carolina

Medical payments per claim in North Carolina decreased five to seven percent per year since 2014, according to a recent study by the Workers Compensation Research Institute (WCRI). These decreases likely reflect fee schedule changes for hospitals and ambulatory surgery …

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AM Best Revises Outlooks to Positive for South Carolina’s Canal Group

AM Best has revised the outlooks to positive from stable and affirmed the financial strength rating of B++ (good) and the long-term issuer credit ratings of “bbb+” of Canal Insurance Company and Canal Indemnity Company, collectively referred to as Canal …

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13 Workers from a New Hampshire Company Treated at Hospital After Chemical Incident

Authorities say 13 people from a New Hampshire company were taken to hospitals and more than 50 others were evacuated after being exposed to a chemical. The incident at Fluid Air, a subsidiary of Spraying Systems Co., in Merrimack, happened …

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Feds Say Florida Officials Bilked FEMA Out of Hurricane Money

Two former officials of a Florida city are charged with conspiring with two businesses to bilk the federal government out of $5 million in Hurricane Michael cleanup money, the U.S. attorney’s office announced Tuesday. U.S. Attorney Lawrence Keefe said the …

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U.S. Offers $30 Million in Grants to Help Coastal Areas Mitigate Flooding, Rising Seas

The U.S. government’s oceans and waterways agency will provide $30 million to improve coastal resilience, officials said, aiming to reduce the impacts of worsening storms, flooding and rising seas in nearly half of U.S. states. Grants through the program are …

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Former Ironshore, Lexington CEO Kelley to Retire at Year’s End from Liberty Mutual

Liberty Mutual Insurance today announced that long-time industry leader Kevin H. Kelley, vice chairman, Global Risk Solutions, will retire at the end of this year. In 2017, Kelley joined Liberty Mutual following the company’s acquisition of Ironshore Inc., where he …

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Australia’s Westpac Bank Apologizes for Money Laundering, Links to Child Abuse Funds

Westpac Banking Corp.’s board stood behind its management team on Friday, offering embattled chief executive Brian Hartzer some respite from mounting criticism over allegations of a breach of money-laundering laws, including failing to detect payments linked to child abuse. Chairman …

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Arch Re to Buy Aspen Re’s Global Credit and Surety Reinsurance Business

Arch Reinsurance, a subsidiary of Arch Capital Group Ltd., is acquiring Aspen Reinsurance’s global credit and surety reinsurance business after Aspen Re decided to exit the line. In addition to the renewal rights on the portfolio, Arch and Aspen have …

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Uber in London Awaits Decision on License Renewal in Its Important European Market

London’s transit authority is set to announce as soon as Monday whether it will grant Uber Technologies Inc. a new license to operate. If Transport for London decides against the company, Uber could face expulsion from its most important European …

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One Critically Injured in Fire at Texas Oilfield Site

One person was seriously injured in a Midland, Texas, explosion and fire on Thursday involving several storage tanks and a truck used in oilfield operations, city and hospital officials said. The fire was contained at the property owned by petroleum …

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MRI Software Acquires Ohio’s Multifamily Insurance Partners

MRI Software (MRI), a global provider of real estate software, has acquired Ohio-based Multifamily Insurance Partners, which provides resident insurance programs for the US multifamily rental market. The launch of MRI Multifamily Insurance gives property managers more choice when it …

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Clark to Take Over as CEO of HDI Global USA in Chicago; Diericx Named President

Chicago-based HDI Global Insurance Co. (HDI Global USA) has appointed Jim Clark as its chief executive officer, effective Jan. 1, 2020. Brad Diericx, chief financial officer of HDI Global USA since 2014, will assume the role of president. Clark, who …

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McDonald’s Employees’ Suit Claims Store Redesign Abets Workplace Violence

McDonald’s Corp. employees on Thursday sued the fast food giant and several of its franchisees in Chicago over a store redesign that staffers say has made it easier for angry customers to leap over the counter and attack them. The …

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Disappointed Fans Lose Fight Over Mayweather-Pacquiao Boxing Match

A U.S. appeals court on Thursday said boxing fans who felt cheated after learning that Manny Pacquiao had been injured before fighting Floyd Mayweather Jr. cannot pursue class-action litigation because the 2015 welterweight bout dubbed the “Fight of the Century” …

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Uber Audio, Video Recording of Trips for Safety Raises Privacy Worries

Uber Technologies Inc. is adding video and audio recording for more trips — a move designed to make the service safer and help settle disputes, but which has triggered privacy concerns about the personal information the ride-hailing giant collects. Uber …

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Mitsui Sumitomo Insurance’s Rating Unchanged with Reorganization: AM Best

The financial and credit ratings of Mitsui Sumitomo Insurance Co. (MSI) remain unchanged following an announcement by its parent company, MS&AD Insurance Group Holdings (MS&AD), that it plans to reorganize its international businesses operating within MSI, said AM Best. Under …

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Elderly Washington Woman Dies After Drop by Ambulance Workers, Suit Charges

The family of a 92-year-old Vancouver, Wash. woman who died after ambulance workers who were transporting her allegedly dropped her onto a sidewalk has filed a $4 million lawsuit. The Oregonian/OregonLive reported the lawsuit was filed this week in Multnomah …

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PG&E Cuts Power to 50K California Homes And Businesses During Wildfire Risk

About 50,000 homes and businesses across Northern California were without power on Wednesday during the latest planned outage instituted by utility Pacific Gas & Electric Co. to guard against risk of wildfire during dry, windy weather. The precautionary shutoffs included …

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AMA Calls for Immediate Ban on All E-Cigarettes, Vaping Devices

The American Medical Association has called for an immediate ban on all electronic cigarettes and vaping devices. The group adopted the sweeping stance at a policy-making meeting in San Diego. It aims to lobby for state and federal laws, regulations …

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Munich Re’s Libman Joins Liberty Mutual’s Shared Economy/New Mobility Team

Liberty Mutual Insurance has appointed Max Libman as lead underwriting consultant for its national Sharing Economy & New Mobility unit. The dedicated Sharing Economy & New Mobility practice was launched earlier this year. The practice helps ride-hailing, vehicle-sharing, car subscription …

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Australia Court Rules Against Johnson & Johnson in Pelvic Mesh Class Action

More than 1,350 Australian women won a seven-year-old class action lawsuit on Thursday against Johnson & Johnson (J&J) for misleading patients and surgeons about the risks of the pharmaceutical giant’s pelvic mesh implants. The suit is one of many J&J …

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#MeToo Changed Norms, Not the Law: Viewpoint

Last week, the Minnesota Supreme Court heard Kenneh v. Homeward Bound, a sexual harassment case that takes aim at the legal requirement that harassment must be “severe and pervasive.” The case hinges on an assistant program supervisor harassed by a …

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Auto Safety Advocates Oppose FCC Plan for Sharing Unused Spectrum With Wi-Fi

A little-used block of spectrum set aside for auto safety should be split to accommodate the rapidly growing number of wireless devices, the chairman of the U.S. telecoms regulator said on Wednesday, a plan that sets up a clash between …

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Lawsuit Alleges Uber ‘Cheats’ Public by Avoiding Worker Insurance Payments, Taxes

Uber Technologies Inc. faces a new legal attack on its refusal to treat drivers as employees that depicts the company as mistreating not just them but the public at large. A lawyer who’s been fighting the ride-hailing giant in court …

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OxyContin Is Being Sold in China by Company Owned by Sackler Family

Thousands of lawsuits across the United States have accused a drug company owned by the billionaire Sackler family of using false claims to push highly addictive opioids on an unsuspecting nation, fueling the deadliest drug epidemic in U.S. history. Yet, …

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My Chi To Named Executive Deputy Superintendent of Insurance in New York

New York Superintendent of Financial Services Linda A. Lacewell has appointed My Chi To as executive deputy superintendent of the Insurance Division at the Department of Financial Services (DFS), which regulates more than 1,400 insurance companies with assets of $4.7 …

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Maine Jury Awards More Than $1M in Hospital Negligence Case

A hospital in northern Maine has been ordered to pay more than $1.2 million in damages to a woman in a medical negligence lawsuit. A jury in Aroostook County found that Cary Medical Center in Caribou, Maine, didn’t properly treat …

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Report Says Connecticut Has Highest Number of Metal Theft Claims in U.S.

A new report says Connecticut has had the most metal theft insurance claims in the country. The National Insurance Crime Bureau issued a report recently that found that Connecticut had the most metal theft insurance claims per capita in 2017 …

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Statewide Overall Decrease of 7.5% Approved for Florida Workers’ Comp Rates

Florida Insurance Commissioner David Altmaier has issued a final order granting approval to the National Council on Compensation Insurance (NCCI) for a statewide overall decrease of 7.5% for Florida workers’ compensation insurance rates. This applies to both new and renewal …

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Sedgwick Appoints Manning as Head of Client Services, International Division

Sedgwick, the London-based provider of risk, benefits and integrated business solutions, announced the appointment of Wayne Manning as head of client services for its international division. With more than 25 years’ experience in insurance, claims and relationship management, Manning joins …

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The Hilb Group Acquires North Carolina’s Employee Benefit Advisors of the Carolinas

The Hilb Group LLC (THG) has acquired North Carolina-based Employee Benefit Advisors of the Carolinas LLC (EBA). The transaction became effective November 1, 2019. Located in Charlotte, N.C., EBA is a full-service employee benefits agency for small to mid-market businesses …

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The Central Insurance Companies Promote Lee to VP of Southeast Regional Office

The Central Insurance Companies have promoted David Lee to vice president of the Southeast regional office, effective November 25, 2019. Lee will replace Senior Vice President Keith Moore who will retire on November 22, 2019. A graduate of the University …

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Sydney Shrouded in Smoke as Bushfires Continue to Spread in Eastern Australia

Sydney was shrouded by smoke for a second time this week on Thursday as bushfires continued to rage along Australia’s eastern seaboard. Early morning commuters in the city center were faced with an acrid haze that stung the eyes and …

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Aon and Other Companies Distance Themselves from Prince Andrew over Epstein Links

The U.K.’s former state phone company is the latest organization to distance itself from Prince Andrew after a prime time television interview threw fuel on the fire of the controversy surrounding his relationship with convicted child sex offender Jeffrey Epstein. …

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Wolfgram Named COO at Wisconsin’s Badger Mutual Insurance

Dan Wolfgram has been named chief operating officer of Milwaukee, Wisconsin-based Badger Mutual Insurance Co., effective Dec. 2, 2019. Wolfgram has more than 30 years of experience in the insurance industry. A longtime employee of R&R Insurance Services Inc. in …

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The Doctors Co. in California Names Vanderlaan Chief Financial Officer

The Doctors Co. has promoted Marco Vanderlaan to chief financial officer and chief risk officer. Vanderlaan succeeds David Preimesberger, who assumes new roles as senior vice president for strategic planning and chief ethics officer. Vanderlaan has held a variety of …

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Watch Out Finance, Business, Tech Workers. Artificial Intelligence Is Coming.

Artificial intelligence is coming for America’s high-paid professions as it creates winners and losers across the labor market like never before. White-collar jobs and better-educated occupations along with production workers are among the most susceptible to AI’s spread into the …

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Report on California Workers’ Comp Shows Steady Independent Medical Review Activity

More than 15,400 independent medical reviews a month are issued in California’s worker’s compensation system, according to a new report from the Department of Industrial Relations. The DIR this week issued a progress report on the its independent medical review …

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Ohio’s AgencyZoom Hires Ternes as VP, Sales

AgencyZoom, a Columbus, Ohio-based sales analytics and automation platform for insurance agents, has hired Katherine Ternes as vice president of Sales Ternes time as a legislative aide and her experience within insurtech start-ups brings a unique combination of skills to …

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Tokio Marine HCC Names Barnett and Browne as Co-Global Marketing Leaders

Specialty insurer Tokio Marine HCC announced that Jeremy Barnett and Phelim Browne have been named co-global marketing leaders, effective Oct. 1, 2019, reporting to Thomas Harmeyer, executive vice president. Barnett, based in Los Angeles, joined Tokio Marine HCC in April …

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Senate Banking Committee Advances Terrorism Reinsurance Renewal

Legislation to renew the federal terrorism reinsurance program advanced another step today when it was passed by the Senate Banking Committee. The Senate legislation (S.2877) is identical to the bill (H.R. 4634) that passed the House earlier this week by …

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Minnesota Businessman Pleads Guilty in Labor Trafficking, Insurance Fraud Case

A businessman accused of insurance fraud and exploitation of his construction workers has pleaded guilty as his trial was about to start in Minneapolis. The Minnesota Department of Commerce reported that Ricardo Ernesto Batres, 47, pleaded guilty in Hennepin County …

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Judge to Decide J&J Vaginal Mesh Lawsuit in Australia

An Australian judge will rule this week whether Johnson & Johnson hid the risks of its vaginal-mesh products and damaged the organs of women, in the latest ruling in worldwide litigation against the U.S. company over the devices. Justice Anna …

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After Aviva’s Reorganization, CEO Vows More Accountability

U.K. insurer Aviva Plc’s reorganization into five units will make it easier for investors to understand the company and foster a “culture of accountability,” according to Chief Executive Officer Maurice Tulloch. Tulloch, who took over the helm of the $20.4 …

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Groups Seek Agreement on What to Call Those Newfangled Driver Assistance Technologies

Four consumer and safety organizations—AAA, Consumer Reports, J.D. Power and the National Safety Council—are urging all organizations, automakers and the media to adopt standardized naming for advanced driver assistance technology in an effort to reduce confusion. They say the use …

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Insurtech Vouch Raises $45M, Announces Launch in California

Vouch Insurance this week announced a $45 million Series B investment round led by Y Combinator Continuity. Vouch also announced its launch in California, which the firm said represents 50 percent of the business insurance market and is the center …

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Alliant Adds Dunn in Colorado to Employee Benefits Group

Alliant Insurance Services Inc. has added Corey Dunn to its employee benefits group as assistant vice president. Dunn is based in Denver, Colo., and will work with a range of organizations delivering benefits solutions. Dunn was previously an employee benefits …

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Lloyd’s Launches Campaign to Fight ‘Unacceptable Behavior’

Lloyd’s of London announced a new campaign to encourage more people to speak up against “unacceptable behavior”. The campaign is part of a program of measures put in place to “accelerate progress towards a culture of integrity, respect and inclusion” …

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Mining Group Has Concerns on Global Tailings Dam Safety Standards

The world’s largest mining trade group said on Monday it has concerns with standards being considered for global tailings dam safety, especially how the new rules will apply to new and existing facilities. An independent panel backed by the International …

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Aon to Acquire CoverWallet, Small-Medium Business Digital Insurance Agency

Global insurance broker Aon has agreed to acquire CoverWallet, a leading digital insurance platform for small and medium-sized businesses. The acquisition provides Aon with additional access to what it sees as a fast-growing, $200+ billion premium global digital insurance market …

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Hub International Acquires Assets Of New York-Based JW Retirement Group

Hub International Limited, a global insurance brokerage, has acquired a brokerage services and investment advisory book of business from William Peragine III and John Biondo, previously dba together as The JW Retirement Group. Terms of the transaction were not disclosed. …

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New York’s Distinguished Programs Elevates Two Senior Executives

Distinguished Programs, a national insurance program manager headquartered in New York, N.Y., has promoted Mark Kissick to chief sales officer. Kissick, who will now oversee all sales and marketing activities for the company, most recently served as president of American …

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Juul Sued by New York State Over Marketing Vape Products to Kids

Juul Labs Inc. is being sued by New York for allegedly trampling state marketing laws by targeting teenagers in advertisements for e-cigarettes and misleading statements about nicotine content in vaping products, among other things, the state’s top law enforcement officer …

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Salesforce Unveils Software Using Amazon AI to Speed Up Call Center Responses

Business software provider Salesforce.com Inc. said on Tuesday it would use artificial intelligence (AI) technology from Amazon.com Inc.’s cloud computing unit to improve customer service apps. Salesforce makes software systems that businesses use to house customer information, like which products …

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Next Insurance Appoints Chase, Leichtag as Head Marketing and Product Officers

Next Insurance, a digital insurtech company focused on small business insurance, has appointed today former Fitbit executive Melanie Chase as chief marketing officer and former Yelp executive Effi Fuks Leichtag as chief product officer. Next Insurance provides insurance coverage to …

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PG&E: Some Fire Victim Claims, Including One for 500-Pound Emerald, Seem ‘Suspicious’

PG&E Corp. says it has found suspicious monetary claims by victims of California’s wildfires, including one from a man who says a 500-pound (227-kilogram) emerald worth $280 million was destroyed at his home a year ago in the most destructive …

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U.S. Safety Agency Faults Uber, Driver in Probe of 2018 Autonomous Car Crash Death

A U.S. safety agency on Tuesday faulted Uber for inadequate attention to safety and decisions in the company’s autonomous vehicle development in an investigation into the first-ever death involving a self-driving vehicle, which also cited the vehicle’s distracted back-up driver. …

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Florida Officials Unveil Website to Monitor Water Quality

Florida officials are rolling out a new online dashboard that allows the public to get a snapshot of water quality in the state’s major lakes and waterways. Gov. Ron DeSantis announced the new website, protectingfloridatogether.gov , during a visit to …

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Mississippi Police Officer Sues Over Gender Bias

A woman is suing a Mississippi police department where she was the sole female officer. News outlets report Tiffany McClure sued the city of Lumberton for discrimination on Wednesday, saying she was fired last year as a result of her …

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Citizens CEO Notes Impact of AOB Reforms as New Rates to Take Effect in Florida

The head of Citizens Property Insurance Corp. says it is already seeing a difference in assignment of benefits (AOB) litigation since reforms passed by the Florida Legislature took effect in July. Meanwhile, many Citizens policyholders may see premium relief from …

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Federal Reserve Approves BB&T and SunTrust Banks Merger

The Federal Reserve Board on Tuesday approved the application by BB&T Corp. of Winston-Salem, North Carolina, to merge with SunTrust Banks, Inc. of Atlanta, Georgia. The merged entity will be called Truist Financial Corp. Upon completion of the merger, Truist …

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AIG’s Marshall Joins CFC as Transaction Liability Practice Leader

Specialty insurer CFC has appointed Angus Marshall as its Transaction Liability practice leader. Marshall joins CFC from American International Group where he led the UK and London Market mergers and acquisitions (M&A) team for more than four years. Prior to …

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Peter M. Bakker Agency Awarded Insurance Agency Apprenticeship in Connecticut

Peter M. Bakker Agency was awarded the first insurance agency apprenticeship by the Connecticut Department of Labor’s Office of Apprenticeship Training. The insurance agency apprenticeship program is an initiative by the state to foster the attraction and placement of new …

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Insurer Asks Court to Divide Money After New Hampshire Crash That Killed Seven

An insurer for a trucking company involved in a crash that killed seven motorcyclists is asking a judge to divide liability payments among victims and their families. The Boston Globe reports that Pilgrim Insurance Co. filed suit in federal court …

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Before Ambush, Burkina Faso Mine Workers Sought More Transport Protection: Reuters

Five months before an ambush killed 39 colleagues, local workers at a Canadian-owned gold mine in Burkina Faso pleaded with managers to fly them to the site rather than go by a road that was prone to attacks, two people …

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Willis Re Securities Completes €120 Million Catastrophe Bond for France’s Covéa Mutual

Willis Re Securities reports it has structured and placed EUR 120 million of insurance-linked securities (ILS) to provide reinsurance capacity for Covéa Mutual Insurance Group, France’s largest domestic property/casualty insurance group. The transaction was executed in collaboration with Willis Towers …

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Insurers, Other Firms Criticize International Energy Report Over Climate Change Approach

Fatih Birol, the head of the International Energy Agency (IEA), faced renewed pressure on Monday from investors and scientists concerned about climate change to overhaul the agency’s projections for fossil fuel demand. Pension funds, insurers and large companies were among …

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Japan’s Largest Insurers Take Another Hit from Typhoon Losses

A string of powerful typhoons that struck Japan has left scars on the country’s non-life insurers, with industry giants likely forced to pay a combined $8 billion in insurance payments in the current fiscal year that ends in March. Japan’s …

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Fire Damages, Destroys Buildings at Famous Texas Wurstfest Venue

Fire destroyed one building and damaged another last week on the grounds for an annual festival celebrating German culture in the Texas city of New Braunfels. While fire officials work to determine the cause, Wurstfest organizers say they’ll rebuild in …

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South Dakota Doctor Made Millions on Unneeded Surgeries, Feds Say

A South Dakota neurosurgeon made millions of dollars by performing unnecessary and dangerous surgeries, including one that left a patient partially paralyzed, federal prosecutors contend in a lawsuit against the doctor. Dr. Wilson Asfora enriched himself by using medical devices …

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Dollar General to Pay $6M to Settle Federal Class Race Discrimination Suit

Major retail chain Dollar General will pay $6 million and furnish other relief to settle a federal class race discrimination lawsuit filed in the U.S. District Court for the Northern District of Illinois in Chicago. According to the lawsuit brought …

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Settlement Reached over Fatal Trench Collapse at Wyoming Resort

A Wyoming developer and representatives of two men who died on his property have reached a settlement in a wrongful death lawsuit. The Jackson Hole News & Guide reported that the terms of the settlement involving developer Jamie Mackay were …

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Tewhill Named Practice Leader at EPIC’s Edgewood Healthcare Advisors

San Francisco-based EPIC Insurance Brokers and Consultants, a retail property, casualty insurance brokerage and employee benefits consultant, has tapped Susan Tewhill to lead its Edgewood Healthcare Advisors practice. Tewhill and her team bring a wealth of knowledge and experience to …

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Bahamas Suffered $3.4B in Losses, 67 Deaths from Hurricane Dorian; Hundreds Still Missing

Hurricane Dorian inflicted losses of about $3.4 billion on the Bahamas, an amount equal to one-quarter of the Caribbean archipelago’s GDP, according to a report released last week. The report by the Inter-American Development Bank also said there were 67 …

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California Sues E-Cigarette Seller Juul for Targeting Teens with Nicotine Products

The state of California on Monday sued e-cigarette maker Juul Labs Inc., alleging the San Francisco company engaged in a “systematic” and “wildly successful” campaign to attract teenagers to its nicotine devices. The lawsuit draws on internal correspondence and other …

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Insurer Market Conduct Troubles Often Traced to Claims Handling Errors

Mistakes by claims professionals were the most common reason for enforcement actions taken against U.S. property and casualty insurers in 2018, taking the No. 1 and No. 2 spot on a top 10 list issued by the Wolters Kluwer consulting …

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Montana Reports Decline in Workplace Injuries in 2018

Employers in Montana reported a total of 14,100 workplace injuries and illnesses in 2018, with 11,900 of those injuries in the private industry. Of those private industry injuries and illnesses, 5,700 were serious enough to require recuperation away from work, …

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Shareholder Suit Claims Boeing Board Liable in 737 MAX Problems

A shareholder lawsuit filed on Monday accused Boeing Co.’s board of doing nothing to investigate the safety of the 737 MAX until the fast-selling plane suffered a second deadly crash in five months. The lawsuit is the latest legal challenge …

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AIG Names Barrett to Head Multinational, General Insurance

American International Group has appointed Allison Barrett as global head of Multinational, General Insurance. In this new role, Barrett will drive General Insurance’s multinational strategic plan and lead the delivery of the company’s multinational capabilities across product lines. Barrett joins …

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South Carolina Family Settles Case Over DUI Crash Treatment for $550K

The family of a South Carolina man who was taken to jail instead of the hospital after a driving under the influence crash has been paid a $550,000 settlement. Records from the state insurance fund obtained by WCSC-TV show the …

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Florida’s New Consumer Advocate Tackles Open Hurricane Michael Claims

Florida’s new Insurance Consumer Advocate Tasha Carter has been busy since taking office August 1. With more than 12,000 Hurricane Michael claims still open, according to the Florida Office of Insurance Regulation, one of Carter’s top priorities has been to …

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West Virginia County Opts Out of Federal Opioid Negotiation Class

A West Virginia county has opted out of a federal opioid lawsuit negotiation class, allowing the county to pursue the case in state court. The Exponent Telegraph reports the Harrison County Commission opted out of the negotiation in early November …

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West Virginia Judge Asks State Supreme Court to Decide Fate of Church Abuse Case

A West Virginia judge is looking to the state Supreme Court for guidance after dismissing a case that alleges a Catholic diocese and its former bishop knowingly employed pedophiles. Wood County Circuit Court Judge J.D. Beane on Nov. 6 tossed …

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Civilian Pane Crash Deaths Rose 15% in 2018

Federal safety officials say that 393 people died in U.S. civilian plane crashes last year, a 15% increase over the year before. All but a dozen of the deaths occurred in general aviation, which usually involves small private planes. However, …

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Utah Extends Fire Restrictions in 11 Counties Until December Due to Dry Conditions

Seasonal fire restrictions are being extended in 11 Utah counties by a month due to what officials say are dry conditions and continued problems with controlling wildfires. The state Department of Natural Resources says State Forester Brian Cottam has signed …

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New Mexico Insurance Commissioner Franchini to Retire

New Mexico’s top insurance regulator is stepping down. The Albuquerque Journal reported that state Superintendent John Franchini has withdrawn his application to serve a third four-year term and instead plans to retire. His term ends Dec. 31. A nine-member state …

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AM Best Assigns Credit Ratings to North Carolina’s Synergy Insurance Company

AM Best has assigned a financial strength rating of A- (excellent) and a long-term issuer credit rating of “a-” to Synergy Insurance Company based in Charlotte, N.C. The outlook assigned to these credit ratings is stable. The ratings reflect Synergy’s …

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California’s Fair Plan Balks at State’s ‘Misguided’ Order to Expand Coverage

The insurers behind California’s Fair Plan, the insurance market of last resort for homeowners, think it’s a bad idea to broaden the coverages available from the Fair Plan beyond basic dwelling fire insurance, an expansion being ordered by the state’s …

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PG&E Warns of Possible Northern California Blackouts at Mid-Week

PG&E Corp. is warning a quarter-million homes and businesses could lose power in northern California starting Wednesday as high winds return to the region. A fire weather watch has been issued by the National Weather Service for parts of northern …

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After Arbitration, Many Accused Harassers Return to Work

What happens behind the scenes when employees are accused of harassment? New research from Michigan State University revealed that almost half of accused harassers can go back to work when disputes are settled by arbitrators – or third-parties who resolve …

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N.J. Man Sentenced to 150 Months in Prison for Insurance Fraud, Drug Distribution

An Atlantic City, N.J., man was sentenced to 150 months in prison for selling more than 200 grams of crystal methamphetamine and for staging a fake robbery of a Union County, N.J., pawnshop for the purpose of perpetrating an insurance …

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Another $180M Approved for North Carolina Disaster Aid, Prep

Another $180 million in state funds are going to help with disaster recovery following hurricanes Matthew, Florence and Dorian and to prepare for North Carolina’s next storm. The state House and Senate voted on Thursday for a negotiated package that …

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Two Large Yachts Destroyed in Predawn Fire at Florida Marina

Authorities say a huge fire has destroyed two large yachts in South Florida, sending flames skyward and leaving millions of dollars in losses. No injuries were reported in Saturday’s pre-dawn fire. Fort Lauderdale Battalion Chief Stephen Gollan told news outlets …

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Science, Enforcement Lag as Car Accidents, Claims Rise in Legal Cannabis States

Car crashes in the first three states to legalize recreational marijuana have soared as law enforcement and regulators struggle to define driving high, let alone determine how to fight it. Colorado, Oregon, and Washington saw a combined 5.2% increase in …

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Three Convicted in East Village Explosion That Killed Two Men

Three people were convicted of manslaughter Friday in the 2015 East Village building explosion that killed two men. They also were found guilty in Manhattan state Supreme Court of assault charges for injuries to 13 people in the massive blast …

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Gallagher’s Artex Risk Completes Purchase of ILS Specialist Horseshoe Insurance

Arthur J. Gallagher & Co. announced its captive and alternative risk transfer solutions subsidiary, Artex Risk Solutions Inc., has completed its purchase of Bermuda-based Horseshoe Insurance Services Holdings Ltd. Financial terms of the deal, which was first announced in October …

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New Hampshire Woman Pleads Guilty to Demanding Money for Fake Illnesses

A New Hampshire woman has pleaded guilty to sending 12 letters demanding nearly $400,000 in compensation from restaurants and food companies after producing fake medical records saying she became seriously ill after eating their food. Forty-nine-year-old Jacqueline Masse, of Hampton, …

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Walmart Alters Disability Reassignment Policy to Settle Suit in Maine

Walmart has agreed to change its national policy for reassigning disabled workers to settle a lawsuit brought by the U.S. Equal Employment Opportunity Commission in Maine. The settlement requires Walmart to offer disabled workers a vacant position in up to …

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Microsoft Puts Israeli Facial Recognition Startup Under Ethics Microscope

Microsoft Corp. has hired former U.S. Attorney General Eric Holder to investigate whether the use of facial recognition technology developed by an Israeli startup it funded complies with its ethics principles, the company said on Friday. AnyVision, based outside Tel …

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Data Firm Palantir’s Partnership with Japan’s Sompo Insurance Targets Health, Cyber

Silicon Valley data analytics company Palantir Technologies Inc. has established a joint venture with Japanese insurance holding company Sompo Holdings Inc. that will initially focus on health and cybersecurity clients, Palantir said. The joint venture, owned 50-50 by Palantir and …

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Demand for M&A Insurance Sees Significant Growth: Aon

An increase in M&A activity in today’s challenging economic environment is driving significant growth in demand for M&A insurance products, according to a report published by Aon. Aon’s report finds that following a decline in M&A activity after the 2008 …

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Smokers Who Switch from Tobacco to Vaping Rapidly Boost Heart Health: Study

Chronic smokers who switched from tobacco cigarettes to e-cigarette vapes in a large randomized control trial saw a significant improvement in markers of heart health after just a month, researchers said on Friday. In study results likely to be closely …

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Aviva to Retain China, Singapore Businesses After Conducting Asian Review

Aviva Plc, the U.K. insurer that’s overhauling some businesses as part of its chief executive officer’s turnaround plan, is to retain its Chinese joint venture as well as assets in its biggest market, Singapore. The firm will continue to explore …

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Epstein Estate Vows Compensation for Accusers Who Drop Damage Lawsuits

The estate of Jeffrey Epstein wants to set up a fund using the late financier’s fortune to compensate women willing to forgo a spate of lawsuits seeking damages for sexual abuse, according to a court document filed on Thursday. In …

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Supreme Court Will Hear Google Latest Effort to End Oracle’s Copyright Claim

The U.S. Supreme Court on Friday agreed to hear Google’s bid to escape Oracle Corp.’s multi-billion dollar lawsuit accusing Google of infringing software copyrights to build the Android operating system that runs most of the world’s smartphones. Google has appealed …

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Florida Expands Access to Insurtech Services and Devices

On June 28, 2019, Florida Governor Ron DeSantis signed House Bill 301 into law and, in doing so, loosened regulatory restrictions and allowed insurers and their agents to utilize innovative technologies to reduce perils to insureds and the costs to …

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New Financial Institutions Offering from Hanover Targets Asset Managers, Depositories

The Hanover Insurance Group, Inc. has launched Hanover Financial Institutions Advantage, a new offering that provides small to mid-sized asset managers and depository institutions with coordinated property, casualty, management and professional liability coverages. The Hanover Financial Institutions Advantage comprehensive product …

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Judge Trims Oklahoma Opioid Penalty on J&J to $465M to Reflect Math Error

An Oklahoma judge on Friday said Johnson & Johnson must pay that state $465 million for fueling the opioid epidemic through the deceptive marketing of painkillers, down from his original award of $572 million. The decision by Cleveland County District …

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FCC Seen Backing Away from Reserving More Airwaves for Automakers’ Talking Cars

The U.S. Federal Communications Commission has proposed taking back some of the spectrum long promised to automakers and re-allocating it to other wireless uses, according to people familiar with the matter. It’s a potentially significant development in a years-long debate …

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As Texas Windstorm Insurer Mulls Rates, Policyholders, Lawmakers Strongly Oppose Hikes

Texas’ property insurer of last resort for wind and hail in counties along the Gulf Coast is finding itself once again between a rock and a hard place — or perhaps more appropriately, between a hurricane and a tornado — …

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Insurer Brit Ltd. Launches E-trading Cyber Portal

Brit Ltd., the London-based insurer, announced it has launched an online platform for cyber risks in both the U.K. and the U.S., targeting small and medium sized enterprises (SMEs) in both regions. The portal will give brokers an agile, user-friendly …

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Allstate’s Armstrong Takes Helm as Casualty Actuarial Society President

Steven D. Armstrong, FCAS, an insurance industry veteran with more than 25 years of experience, has begun his term as the president of the Casualty Actuarial Society (CAS). Armstrong has been actively involved with the CAS for two decades, having …

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For 2020, Expect Biggest Commercial Insurance Hikes in Years: Willis Towers Watson

North American commercial insurance buyers will face sizable price increases in 2020, across most lines of insurance, according to insurance broker Willis Towers Watson’s 2020 Insurance Marketplace Realities. While the report finds that capacity is available in all but the …

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Supreme Court Weighs Legal Standard in $20B Racial Bias Claim Against Comcast

U.S. Supreme Court justices on Wednesday expressed sympathy toward allowing comedian and producer Byron Allen to pursue his racial bias lawsuit accusing cable television operator Comcast Corp. of discriminating against black-owned channels. Over the course of an hour of oral …

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AGCS Appoints Williams as Global Head of Financial Lines, Replacing Poncin

Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance unit of Allianz Group, has appointed Shanil Williams as global head of Financial Lines, effective Nov. 15, 2019. He succeeds Bernard Poncin, who will leave AGCS to pursue other opportunities …

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Best’s Report Sees Identity Theft Coverage Becoming Standalone Personal Cyber Insurance

The role of identity theft insurance as a supplemental product could evolve as personal cyber risks become more of a threat as technology proliferates further into individuals’ lives, according to a new A.M. Best report. In its current form, identity …

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Pioneer Underwriters Decides to Put Lloyd’s Syndicate 1980 into Run-off

Pioneer Underwriters has decided to put its Lloyd’s Syndicate 1980 into run-off after completing an examination of “strategic and capital options for 2020.” Pioneer said it will be working with Asta, the managing agency of Syndicate 1980, to ensure a …

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Hartford InsurTech Hub Welcomes Top Startups for 2020

Hartford InsurTech Hub, powered by Startupbootcamp, has announced its 2020 cohort of startups. The past two cohorts have consisted of ten startups, and with the help of the Hub’s partners, the accelerator program decided to select 11 companies to relocate …

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Conn. Supreme Court Finds Insurers Not Liable for Crumbling Foundations

Insurers are not liable for crumbling foundations caused by defective concrete unless the home is on the verge of collapse, the Connecticut Supreme Court ruled. The decision will likely amplify public pressure for a government solution. Thousands of homes in …

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City and Union Officials to Consult on Philadelphia Refinery Sale Process

A U.S. bankruptcy judge on Thursday approved a process for the sale of the Philadelphia Energy Solutions oil refinery, the largest and oldest on the East Coast, under which city officials and a trade union will consult on the matter. …

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Financial Services Industry Misses Out on $700B a Year by Ignoring Women: Report

The male-dominated finance industry is missing out on more than $700 billion a year in revenue by failing to listen to or tailor products for women, according to management consultancy Oliver Wyman. “Women are arguably the single largest under-served group …

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NTSB: Coast Guard Ignored Duck Boat Safety Recommendations

Federal transportation safety investigators criticized the U.S. Coast Guard Wednesday for ignoring suggestions over nearly two decades to improve tourist duck boats, changes they say might have prevented last year’s Missouri accident that killed 17 people. The National Transportation Safety …

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Michigan Car Insurance Fee Dropping by 55% Next Year

Michigan drivers who want unlimited medical coverage for crash injuries will pay $100 per vehicle starting in July, which will be 55% less than the record-high $220 annual fee they currently pay. The Michigan Catastrophic Claims Association, a state-created nonprofit …

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USI Acquires Alfred J. Davis Company in Oregon

USI Insurance Services has acquired Portland, Ore.-based insurance agency Alfred J. Davis Co. Terms of the deal were not disclosed. The agency’s employees and business operations will be integrated with USI’s existing office in Portland. Alfred J. Davis Company has …

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Wall Street Taking Closer Look at Climate Change Risks

In the wake of two years of devastating wildfires in California, Wall Street is incorporating a new risk metric when evaluating companies: climate resiliency. Investors, analysts, research firms and companies are putting more emphasis on how climate issues ranging from …

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Ex-DuPont CEO Backtracks, Says Chemours Liabilities ‘Uncapped’

DuPont de Nemours Inc.’s ex-top executive is backtracking on claims the chemical maker never intended to saddle its spinoff Chemours Co. with “unlimited exposure” for liabilities. Ellen Kullman, who resigned as CEO in 2015, said in a court filing directors …

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Inszone Insurance Services Acquires Jones Wilson Insurance in Arizona

Inszone Insurance Services has acquired Jones Wilson Insurance in Benson, Ariz. Terms of the deal weren’t disclosed. Jones Wilson Insurance becomes the third acquisition for Inszone Insurance in Arizona this year. Jones Wilson Insurance has provided insurance services to both …

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Former North Carolina Insurance Chief Goodwin to Seek Post Again in 2020

North Carolina’s insurance commissioner from 2009 through 2016 wants the job again. Democrat Wayne Goodwin announced Tuesday he’ll run for commissioner next year, setting up a potential rematch with current Commissioner Mike Causey, the Republican who beat him in 2016. …

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North Carolina Officials Vote to Reopen Island Damaged by Hurricane Dorian

County commissioners on the North Carolina coast have moved to reopen an island ravaged by Hurricane Dorian. Acting on a recommendation from the Ocracoke Control Group, the Hyde County Commissioners on Monday adopted the proposal to open the island to …

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Carolina Amusement Park Fined $42K by OSHA Over Maintenance Worker Injury

Federal safety officials have fined an amusement park on the North Carolina-South Carolina line after a maintenance worker was injured last March. The Charlotte Observer reports the Occupational Safety and Health Administration levied a $42,000 fine on Carowinds after finding …

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7 Appointed to Georgia Medical Marijuana Commission

Georgia officials have made appointments to the state medical marijuana commission, a key step toward implementing a law designed to increase patient access. Republican Gov. Brian Kemp, Lt. Gov. Geoff Duncan and House Speaker David Ralston announced seven appointments Tuesday. …

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Zurich Adds Cyber Endorsements for Manufacturing Industry

Zurich Insurance has rolled out new, industry-specific endorsements to its cyber insurance policy designed to expand coverages provided to the manufacturing industry. The endorsements were created in response to the growing threats posed to U.S. industrial firms by data breaches, …

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California Insurance Commissioner OKs Workers’ Comp Pure Premium Reduction

California Insurance Commissioner Ricardo Lara has adopted and issued a revised average advisory pure premium rate, lowering the benchmark to $1.52 per $100 of payroll for workers’ compensation insurance, effective Jan. 1, 2020. This is the ninth consecutive reduction to …

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Risk Strategies Appoints Grant as Employee Benefits Practice Leader in New York

Risk Strategies, a privately held, national insurance brokerage and risk management firm, has appointed 25-year industry veteran Michael S. Grant as employee benefits practice leader for the firm’s Greater New York region. Prior to joining Risk Strategies, Grant was senior …

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Hail Has Damaged Insurance Market for Car Dealers. Parametric Insurance May Help.

Nick Pacifico has been working at his family’s Cadillac dealership in Denver since 2003. He’s never seen insurance costs this bad. “Getting coverage is nearly impossible,” said Pacifico, vice president at Rickenbaugh Automotive Group. Two years ago he paid about …

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Generali Launches Art Insurance Unit, Aiming to Be ‘Partner for Life’ for Collectors

Italian insurer Generali launched a new business Tuesday to cover art works, engaging as a poster boy the contemporary artist Maurizio Cattelan, whose gold-covered statue valued at 2.4 million euros ($2.6 million) was stolen earlier this year from an English …

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Mediation Underway Between Bayer, Plaintiffs Over Roundup Claims

Mediation between Bayer and plaintiffs in the United States aims to clarify all justified claims related to Roundup herbicide both at the national and state level, mediator Ken Feinberg told a German magazine. “The mediation is going slowly but steadily,” …

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Allianz Forms Partnership with Microsoft, Aiming to Transform Insurance Processes

Allianz SE and Microsoft Corp. announced a strategic partnership focused on digitally transforming the insurance industry, making the insurance process easier while creating a better experience for insurance companies and their customers. Through the strategic partnership, Allianz will move core …

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Chubb Appoints Keen as Division President, Chubb Global Markets

Chubb announced the appointment of Jason Keen as division president, Chubb Global Markets. In this role, Keen will have responsibility for the leadership, strategy and performance of Chubb Global Markets, which comprises Chubb’s London market wholesale and specialty business including …

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Insurance Premiums to Grow 3% Despite Economic Slowdown: Swiss Re

Global insurance premiums will grow 3 percent on average over the next two years even with an emerging global economic slowdown, Swiss Re said in its latest sigma report. Rising lost costs will fuel the moderate but steady increase, the …

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Australia Wildfires Continue to Rage, Destroying Homes, Forcing Evacuations

Scores of wildfires continued to rage across vast tracts of Australia’s drought-stricken east coast on Wednesday, forcing hundreds of residents to evacuate their homes, some for the second time in a week. The most intense fires were concentrated in the …

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Venice Floods, Australia Wildfires Blamed on Climate Change

Extreme floods in Venice, fires in Australia and even an outbreak of plague in China have been attributed to climate change this week, while researchers have warned that global warming could saddle future generations with life-long illness. Venice declared a …

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Texas Oilfield Services Firms to Pay $1.2M to Settle Federal Race Discrimination Suit

Two Houston-based oil field services companies have agreed to pay a total of $1,225,000 to settle a race discrimination and retaliation lawsuit filed by federal officials. According to the U.S. Equal Employment Opportunity Commission, Nabors Corporate Services Inc. and C&J …

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Wisconsin Insurance Agent Loses License, Must Pay Nearly $800K in Penalties, Restitution

An insurance agent in Wisconsin has had his license revoked and ordered to pay nearly $800,000 in penalties and restitution after being found in violation of insurance laws in the state. The former insurance agent, Barry Rumpel, may no longer …

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With Focus on Employee Wellbeing, Iowa’s Holmes Murphy Launches ethOs

Waukee, Iowa-based employee-owned and controlled insurance broker, Holmes Murphy, has launched a new company focused on employee wellbeing — ethOs. Led by Ali Payne, EthOs will focus on improving workplace culture, engagement with multi-generational staff, and addressing all aspects of …

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Wirth Elected President of Illinois Independent Agents Group

Independent Insurance Agents of Illinois (IIA of IL) has elected Bill Wirth, of Wirth Agency in Waterloo, as president of the group for a term that runs until Sept. 30, 2020. As president, Wirth will serve as a member of …

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Gwartney Appointed VP, Employee Benefits at Oklahoma’s Universal Insurance

Dason Gwartney has been named vice president and employee benefits practice leader at Universal Insurance Agency in Durant, Oklahoma, a unit of First United Bank. Gwartney joins First United/Universal with more than 25 years working with employee benefits and insurance …

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FAA Chief Vows Improved Safety Reviews of New Aircrafts and Pilot Technology

Aviation regulators around the world need to do a better job of assessing hazards in aircraft designs and understanding how pilots might be tripped up by complex technology in the wake of the two fatal crashes on Boeing Co.’s 737 …

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CAC Specialty Names Schaper in Colorado to Lead Real Estate Practice

CAC Specialty has named Chelley Schaper senior vice president in Denver Colo. Schaper has more than 20 years of experience, including 16 years at Lockton working with complex risk accounts, with a specialization in the real estate industry. Most recently, …

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FBI Warns on Rise in Sophisticated Cyber Crimes

On Dec. 14, 2018, Aaron Cole was about to buy a new house and received an email that he thought was from his title company, directing him to make a $123,000 deposit. Cole complied, not realizing that a sophisticated hacker …

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Golden Bear in California Names Shreve Vice President

Golden Bear Insurance Co. in California has named Gary Shreve vice president and primary casualty manager. Shreve has more than 30 years of experience. He began his career with the Aetna Casualty & Surety Co. as a multi-line underwriter. He’s …

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LLoyd’s Broker SSL Endeavour to Launch Latin America-Focused MGA in Miami

Specialist independent Lloyd’s broker and delegated authority expert SSL Endeavour Limited (SSL Endeavour) will launch a managing general agent (MGA) based in Miami, and a trio of senior hires to support growth in Latin America. Set to begin Jan. 1, …

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Mercury Adds Landlord Insurance in California

Mercury Insurance has introduced landlord insurance in California designed to help protect people with rental properties. Landlord insurance covers the costs to repair rental properties if they’re damaged by fires, lightning, wind, hail and other covered losses, lost rental income …

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Kentucky Man Accused of Burglarizing 17 Homes for Scrap Metal

Police in Kentucky say they’ve arrested a prolific thief, a man who they say broke into 17 homes within a few miles (kilometers) of each other. They say he wasn’t going for high-end appliances, cash or jewelry: He was in …

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Scientists Focus On Wiregrass Region of Alabama, Georgia for Tornado Study

Tornado researchers want to know more about how tornadoes form from squall lines in the Wiregrass region of Alabama and Georgia. That part of the South is of interest to Chris Weiss, a professor of atmospheric science at Texas Tech …

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Insurtech Root Expands Into Renters Market; Product Launched in 3 States

Root Insurance, a property casualty insurtech, has launched a streamlined renters insurance designed and personalized for consumers starting at $6 a month. In addition to covering customers’ personal property and liability from accidents, the new Root renters insurance product pays …

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‘Problematic’ Cannabis Use Has Risen for Adults, Teens Since Legalization: Research

Problematic use of marijuana among adolescents and adults increased after legalization of recreational marijuana use, according to a new study from New York University’s Grossman School of Medicine and Columbia University’s Mailman School of Public Health. Published online November 13 …

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Widow Sues Dive Boat Owner in Fire off California That Killed 34

The widow of a passenger who died in a fiery dive boat disaster that killed 34 people in the waters off California sued the vessel’s owners this week. Christine Dignam, whose husband, Justin Dignam, died when the Conception caught fire …

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Uber Fights Decision by Los Angeles to Suspend Scooter, Bike Rental Permit

The Uber subsidiary Jump is fighting the suspension of its permit to rent electric scooters and bikes in Los Angeles. The city suspended Jump’s operating permit in October for not complying with a rule requiring such companies to transmit data …

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Fixing Ride-Hailing Will Take Fewer But Better Drivers, More Money: Viewpoint

Your mother probably told you never to get in a car with a stranger. The multibillion-dollar global ride-hailing industry depends on your ignoring her. If they want to earn that trust, though, companies need to rethink the tradeoff they’ve long …

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Swiss Re Corporate Solutions Names Mazzoleni Neglén as Head Customer Experience & Global Sales Steering

Swiss Re Corporate Solutions (SRCS) has appointed Loredana Mazzoleni Neglén as head Customer Experience & Global Sales Steering, effective Feb. 1, 2020. In this newly created role, Mazzoleni Neglén “will be responsible for supporting SRCS to better understand and address …

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Praedicat Develops Named Peril Casualty Insurance Product via Lloyd’s Lab

Praedicat, Inc., the Los Angeles-based liability risk analytics software company, announced it is developing a new insurance product designed to help global industrials secure coverage for innovative and essential products and chemicals that are typically excluded or under-insured in standard …

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Employee Lawsuit Claims McDonald’s Fails to Address Sexual Harassment

Mc Donald’s Corp. was sued on Tuesday by workers in Michigan who accused the fast-food chain of allowing pervasive sexual harassment to flourish at its restaurants nationwide. The proposed class action lawsuit filed in a Michigan state court accused McDonald’s …

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How Brokers Influence Specialty Insurance Product Innovation

In an era of insurance transformation, where process simplification and flawless customer service are expected, innovation in policy and product is a must—especially when it comes to the non-traditional coverage aspects of specialty insurance. Whether it’s reputational, cyber, gig economy …

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Flooding in Northern England Becomes U.K. Election Issue

Boris Johnson deployed extra troops to help flood-hit parts of Northern England as he tried to ensure that a natural disaster didn’t damage his election chances. The prime minister convened a meeting of the government’s “Cobra” emergency committee on Tuesday …

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Fires Continue to Rage in Australia’s Most Populous State, New South Wales

Ferocious wildfires were burning at emergency-level intensity across Australia’s most populous state and into Sydney’s suburbs on Tuesday as authorities warned most people in their paths that there was no longer time to flee. New South Wales state is under …

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Ransomware Hackers Demand $5M from Mexico State Oil Firm Pemex

Hackers demanded about $5 million in bitcoin from Mexico’s Pemex, they told Reuters on Tuesday, saying the state oil firm missed a special discount by not paying immediately after a cyber attack that fouled up the company’s systems. The hack, …

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Hong Kong Financial Services Firms Worried for Staff Safety as Protests Escalate

Finance firms in Hong Kong urged staff on Wednesday to seek safety or work from home as anti-government protests paralyzed the city’s business district for a third day in one of the biggest disruptions faced by the Asian finance hub. …

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Alera Group Acquires Pennsylvania’s Capital Region Benefits

Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm, has acquired Capital Region Benefits, effective November 1, 2019. Capital Region Benefits, an independent insurance agency located in Camp Hill, Penn., has provided group benefit …

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Connecticut’s Electric Boat Fined $10K After Worker Falls 20 Feet into Submarine

Connecticut submarine maker Electric Boat has been fined by federal officials after an employee fell more than 20 feet while working earlier this year. The Day reports the federal Occupational Safety and Health Administration recently fined Electric Boat $10,000 for …

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The Hilb Group Acquires Massachusetts’ Gould & Naimoli Partners

The Hilb Group LLC (THG) has acquired Massachusetts-based Gould & Naimoli Partners LLC/G&N Insurance (G&N). The transaction became effective November 1, 2019. G&N is a property and casualty insurance agency primarily providing personal lines insurance to real estate owners in …

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Sexual-Harassment Whistleblower Sues Lloyd’s Insurer Tokio Marine Kiln

A senior lawyer who blew the whistle on alleged sexual harassment and bullying at a top Lloyd’s of London insurance company is suing his employer for what he called a campaign of harassment, racial discrimination and victimization. Ifeanyi Okoh said …

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New Nationwide Agent ‘Express’ Portal to Offer Multiple Product Quotes in 2 Minutes

Nationwide is introducing Nationwide Express, a new technology platform that promises to enable agents to quote policies for auto, homeowners and renters insurance in two minutes and tailor coverages, bind and process payment and trailing documents quickly. The Nationwide Express …

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Insurtech Sales Platform Cover Genius Raises $10M for Expansion

Cover Genius, an insurtech that offers an insurance sales and payments tools to online retail, travel, property, shipping and other companies in multiple languages and countries, has raised $10 million in new financing. King River Capital, a Sydney and California-based …

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PURE Programs Launches California High Wildfire Risk Homeowners Program

PURE Programs has launched a new High Wildfire Risk Homeowners Insurance program, with coverages for retail insurance brokers serving clients that own high value homes in California at greater-risk of loss from wildfire. PURE Programs’ High Wildfire Risk Homeowners Insurance …

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North Carolina High Court Keeps Blackbeard Ship Case Over Images Alive

A treasure hunter who accuses the state of North Carolina of misusing his images from Blackbeard’s flagship says he’ll ask for 10 times the damages he originally sought, now that a court ruling has come down in his favor. John …

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Elementary School Bus Crash in Florida Injures 6 Students

Fire rescue officials say a half dozen elementary school students in Florida suffered minor injuries when the school bus they were in was involved in a crash with a car. Orange County Fire Rescue tweeted Monday morning that the six …

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Email System With Info of 44K Tennessee Medicaid Members Breached

Officials say the private information of nearly 44,000 TennCare members may have been stolen during a breach of the email system of a vendor for the state’s Medicaid agency. The Tennessean reports that Magellan Health Systems says information including members’ …

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IAT Insurance Adds 8 Hanover Underwriters to Specialty Brokerage Unit in North Carolina

IAT Insurance Group, a provider of specialty property and casualty products, has hired a team of eight underwriters to its Specialty Brokerage division. All eight previously worked together at Hanover Insurance under Mark Boland, who joined IAT last year as …

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What to Expect in Commercial Insurance Market Conditions Heading Into 2020

Ongoing rate increases and reductions in capacity are taking shape in most property/casualty commercial lines in the fourth—and for some, will continue into the new year, according to a recent report from broker USI Insurance Services. Only one line—loss sensitive …

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Insurance Council of Australia Declares Catastrophe for New South Wales Bushfires

The Insurance Council of Australia (ICA) on Nov. 9 declared a catastrophe for the bushfires blazing in northern New South Wales. The catastrophe declaration is for communities on the mid-north coast affected by bushfires that have reportedly destroyed more than …

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New Jersey Man Sentenced in Slip and Fall Insurance Scam

A New Jersey man is not going to prison for orchestrating a slip and fall insurance scam. Under terms of a plea agreement, a judge on Monday instead sentenced 58-year-old Alexander Goldinsky to probation, community service and ordered him to …

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NYPD Employees Charged in Car Insurance Scam

A uniformed New York Police Department officer and five dispatchers are among those charged in a car insurance scam that authorities say compromised the personal information of 60,000 vehicle accident victims and tried to exploit people from low-income neighborhoods, authorities …

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Markel to Acquire Virginia’s VSC Fire & Security

Markel Corporation and VSC Fire & Security Inc. have entered into a definitive agreement for Markel to acquire VSC. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2019. Additional terms …

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Vale’s ‘Negligence’ May Have Cost Lives, Says Brazil Mining Regulator

Brazil’s mining regulator on Tuesday blasted iron ore miner Vale SA for failing to disclose problems with a mining dam before a deadly collapse in January, saying this kept the agency from taking actions that could have saved lives. The …

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Ben & Jerry’s Is Sued by Environmental Advocate Over ‘Happy Cows’ Claim

Ben & Jerry’s has been sued by an environmental advocate who said it deceived consumers by touting that the milk and cream it uses to make ice cream came exclusively from “happy cows.” In a complaint filed last week, James …

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Guy Carpenter Appoints Bermuda Execs, Including Johnston, Komposch from Aon

Guy Carpenter announced the appointment of Robert Johnston as chairman of Guy Carpenter’s Bermuda operations, and Peter Komposch as head of Casualty and Specialty, Bermuda, with immediate effect. Johnston has nearly 20 years’ experience in Bermuda, most recently as president …

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Ransomware Attack Hits Mexico’s State Oil Firm Pemex

A ransomware attack hit computer servers and halted administrative work on Monday at Mexican state oil firm Pemex, according to employees and internal emails, in hackers’ latest bid to wring ransom from a major company. Hackers have increasingly targeted companies …

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Australia Braces for Another Week of Devastating Bushfires

Australia is bracing for another week of devastating bushfires, with swaths of the eastern seaboard and even areas of greater Sydney facing a “catastrophic” threat that’s unprecedented at this time of year. It’s the first time authorities have set the …

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Texas Windstorm Insurer Actuarial Committee to Meet Again for Rate Review

The Actuarial & Underwriting Committee of the Texas Windstorm Insurance Association (TWIA) will meet Tuesday, Nov. 19 at 1:30 pm for review and possible action regarding development of recommendations to the association’s board of directors concerning rate filings as permitted …

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More Than 100 Dams in Ohio Rank as ‘High-Hazard’

Picturesque, and at times, worrisome. The Muskingum University dam in OHio holds back what locals call “College Lake” on the campus of the private liberal arts college. Perched directly over the inlet to the lake’s spillway is a wooden gazebo …

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Vertus to Offer Hurricane Deductible Buy-Back Insurance in Texas

Vertus Insurance Partners, a Florida-based managing general agent and provider of specialized catastrophic risk protection insurance products is entering the Texas marketplace with its homeowners’ hurricane deductible reimbursement products. The company said its Cat4Home product provides Texas homeowners supplemental homeowner …

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Ohio’s Norman-Spencer Adds Cox as Managing Director, Transportation

Norman-Spencer, a Dayton, Ohio-based property/casualty program administrator and wholesale brokerage, has appointed Dave Cox as managing director of the Transportation Division. Cox brings over 30 years of experience exclusively in the transportation insurance industry from field underwriting to chief underwriting …

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Corporations Grow Nervous as Compensation for Directors Rises

It’s nice work if you can get it. The average annual compensation for non-executive directors at S&P 500 companies rose 2 percent to $304,856 last year, topping $300,000 for the first time and 43 percent higher than it was 10 …

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Program Manager Victor O. Schinnerer Rebrands as Victor US

Insurance program manager Victor O. Schinnerer and Co. has rebranded as Victor US. The announcement completes the larger global unification and rebranding of The Schinnerer Group to Victor Insurance Holdings that was begun in 2018. Last month, as part of …

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Juul Labs and WeWork Being Sued Under Illinois Biometric Privacy Law

Juul Labs Inc. was sued for collecting biometric data from its online customers as a method of verifying they are legally old enough to buy vaping products. The company was accused in a complaint filed last Thursday in Illinois of …

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Kentucky Hemp Processing Plant Damaged by Explosion, Fire

An explosion and fire have damaged a hemp processing plant in Kentucky. Clark County Fire Chief Ernie Barnes told WKYT-TV that crews were dispatched Thursday night to the GenCanna facility in Winchester and arrived to find a large fire at …

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Farmers Hit by Hurricanes in Alabama, Florida, Georgia to Get $800M in Federal Aid

The federal government announced $800 million in aid Friday to farmers in three southern states that were devastated by last year’s hurricanes. Nearly half that money will go to Florida, where timber farmers suffered catastrophic losses when Hurricane Michael came …

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PointeNorth Insurance Acquires Berger & O’Neal Insurance, Holmes-Shaw Agency of Georgia

PointeNorth Insurance Group, LLC (PNIG), a locally owned independent insurance agency in the Southeast, has acquired two additional insurance agencies in Georgia － Berger & O’Neal Insurance Group and Holmes-Shaw Agency. Berger & O’Neal Insurance Group and Holmes-Shaw Agency will …

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North Carolina-Based Jackson Sumner & Associates Names McNeil P&C Manager

Jackson Sumner & Associates (JSA) has promoted Kristel McNeil to the position of P&C Manager. McNeil first began with JSA in 1998 in support staff, and in 2001 moved into underwriting for the company. In 2006 she moved into renewal …

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EPIC Launches Site Pollution Liability Insurance Program for Cannabis Risks

Greyling Insurance Brokerage & Risk Consulting (Greyling), a division of EPIC Insurance Brokers & Consultants (EPIC), has launched a nationwide site pollution liability insurance program for the emerging cannabis industry. Available in states where cannabis is legal for recreational and …

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Microsoft Vows to Honor California’s Consumer Privacy Law Countrywide

Microsoft Corp. said in a blog post on Monday that it would honor California’s privacy law throughout the United States, expanding the impact of a strict set of rules meant to protect consumers and their data. Microsoft said in the …

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Undisclosed Settlement Reached Over Deadly Hawaii High-Rise Fire

Plaintiffs and defendants reached a settlement over a deadly Honolulu high-rise fire, although the amounts to be paid by insurance companies remains confidential, attorneys said. A settlement conference concluded Tuesday regarding the July 2017 Marco Polo building fire that killed …

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California School District Paying $28M After Boy Hit By Car

A Southern California school district will pay $28.5 million in damages after a boy with special needs was hit by a car and severely injured while under the supervision of school personnel, attorneys said. A judge determined the Victor Elementary …

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New NTSB Report in Fatal Crash in Arizona Involving Autonomous Vehicle

A new federal report into last year’s fatal crash involving a self-driving car in suburban Phoenix says the Uber vehicle couldn’t anticipate the actions of jaywalkers. The National Transportation Safety Board report also says the SUV wasn’t designed to slam …

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PG&E Expecting over $6B in Costs from California Wildfire

Pacific Gas & Electric is reporting substantial losses for the third quarter, driven by catastrophic wildfires that have been blamed on the utility’s outdated transmission lines. The company anticipates those costs could escalate to as much as $6.3 billion. PG&E …

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Hub International Buys Canada Employee Benefit Consultant, W.R. Carey Corp.

Hub International Ltd., a Chicago-based insurance broker, announced it has acquired the assets of W.R. Carey Corp. Terms of the transaction were not disclosed. Located in Winnipeg, Manitoba, Canada, Carey Corp. is an independent employee benefits consulting firm providing a …

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Typhoon Hagibis to Cost Japan’s Economy $10B, with Insured Losses in Billions: Aon

Typhoon Hagibis is likely to become one of 2019’s costliest events, with economic costs of more than US$10 billion and insured losses minimally in the billions, according to Aon’s monthly catastrophe report. The storm made landfall in Japan’s Iza Peninsula …

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Element Risk Management Acquires Three Insurance Agencies in Virginia, Pennsylvania

Element Risk Management has acquired three new insurance agencies in Virginia and Pennsylvania. Barnes & Phillips Insurance & Financial Services of Woodstock, Va., Crawford Insurance Company of Strasburg, Va., and Brenner Insurance in Hollidaysburg, Penn., are now part of the …

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New York’s Cook Maran Hires Anzelone as a Client Advisor

Cook Maran, headquartered in Melville, N.Y., has hired 18-year insurance veteran Chris Anzelone as a client advisor. He will operate out of the Cook Maran location in Melville. Anzelone previously served as director of Sales and Acquisitions at Davenport Financial …

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Virginia’s Allianz Partners Hires Wright as CFO, O’Connor as Head of Operations

Allianz Partners, a Henrico, Va.-based insurance company, has hired Jeff Wright as chief financial officer and Jim O’Connor as head of Operations. Wright succeeds Diane Babson, who took an assignment with another Allianz Partners business unit, while O’Connor fills a …

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Reuters Report: How Plaintiff Lawyers Help Corporate America Keep Its Secrets

Paula Lawlor was sifting through piles of internal General Motors Co. documents in a hotel room outside of Los Angeles when she hit pay dirt: Company records showing that GM knew for years that stronger roofs on its vehicles could …

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UPS Liable for Shipping Contraband Cigarettes in New York, Damages Reduced

A federal appeals court found United Parcel Service Inc liable to New York state and New York City for shipping hundreds of thousands of cartons of untaxed cigarettes, but reduced its payout for damages and unpaid taxes to about $97.6 …

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Marsh Taps Army Veteran, JLT Exec Sawyer to Lead U.S. Cyber Risk Consulting

Global insurance broker Marsh has appointed Reid Sawyer as U.S. Cyber Risk Consulting leader. In this newly created role, Sawyer will lead the strategy and delivery of Marsh’s cybersecurity consulting services in the U.S., working with Marsh’s cyber insurance brokerage …

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Investors React Positively to Argo CEO’s Exit, Despite Q3 Net Loss

The day after Argo Group International Holdings announced CEO Mark Watson III was retiring “immediately,” investors seemed ecstatic, driving the company’s stock price up 5.6 percent on Nov. 6. Watson’s departure as CEO is a good thing for the bigger …

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Kaufman Group, Burns & Wilcox Promote 23 Associates Including D’Antoni

Global insurance services firm H.W. Kaufman Group and its subsidiary Burns & Wilcox, a North American wholesale insurance broker and underwriting manager, have announced numerous leadership promotions. Twenty-three insurance industry associates across 15 locations in the United States and Canada …

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AM Best Reviews Argo Group’s Ratings in Reaction to SEC Probe, Watson Exit

AM Best has placed the credit ratings of Argo Group International Holdings Ltd. and its subsidiaries under review with negative implications. These actions are a reaction to the sudden departure of Mark E. Watson III, Argo’s chief executive officer, but …

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VIBE Syndicate 5768 to Be Placed into Solvent Run-off

The board of VIBE Syndicate Management announced, effective Dec. 31, 2019, its Syndicate 5678 at Lloyd’s will be placed into a planned run-off. “It was with considerable regret that our board reached the conclusion that the business does not have …

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Lloyd’s to Create Single Governing Body, Merging Council and Franchise Board

Re/insurance market Lloyd’s announced its decision to merge the Council of Lloyd’s and the Franchise Board, effective from June 1, 2020, after receiving widespread support from across the market. The news follows five months of consultation across the Lloyd’s market, …

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Ex-Tennessee Agent Indicted On More Than 70 Charges, Accused of Premium Theft

A former insurance agent, political campaign treasurer and Tennessee Republican Party committeewoman is accused of stealing from her father’s campaign and pocketing insurance money from policyholders who used her family’s insurance company. News outlets report Kelsey Ketron, 29, has been …

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Companies That Are Open About Cyber Risks Fare Better With Investors

Research finds that when one company experiences a cybersecurity breach, other companies in the same field also become less attractive to investors. However, companies that are open about their cybersecurity risk management fare significantly better than peers that don’t disclose …

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Why James River Insurance Dumped Uber Account

A Bermuda-based insurer that recently severed ties with an Uber Technologies Inc. affiliate said on Thursday the risk of providing driver ride-hailing coverage had become too great and that it had mispriced policies during its initial years on the account. …

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Unlicensed Florida Doc Arrested for Treating Auto Accident Victims, Billing Insurers

A Florida doctor has been arrested for allegedly practicing as a health care professional without a license and fraudulent billing for unlicensed medical treatments, according to a statement from the Florida Department of Financial Services. Ozioma Maduka of Osceola Injury …

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Amoruso Joins Renaissance Alliance Insurance Services in Florida

Renaissance Alliance Insurance Services, a membership alliance for independent insurance agencies, has hired Anthony Amoruso as senior agency recruitment specialist in Florida. Oscar L. Miniet, regional executive vice president, made the announcement, saying that Amoruso’s primary role will be to …

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Coalition Makes Cyber Risk Assessment Tool Available for Free to Small, Midsize Firms

Coalition, a cyber insurance company for small and midsize businesses, has launched a free, publicly available cybersecurity and risk assessment tool that assesses the expected probability and severity of a security incident for a company. Using Coalition’s proprietary underwriting platform …

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Oklahoma Workers’ Comp Commission Names Hammonds Johnson General Counsel

Lauren Hammonds Johnson has been appointed general counsel at the Oklahoma Workers’ Compensation Commission (WCC). The general counsel will work directly under Commissioners Mark Liotta, Jordan Russell and Megan Tilly. Hammonds Johnson will be taking over the role of general …

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California Town Devastated by Wildfire Rebuilds, But Is It Any Safer a Year Later

There was “no way in hell” Victoria Sinclaire was rebuilding in Paradise, Calif. She’d thought she was going to die during the six hours it took her to escape the deadliest and most destructive wildfire in California history. The town …

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Driscoll & Driscoll in California Adds Currado

Driscoll & Driscoll Insurance Agency in Palmdale, Calif., has added John Currado. Currado is a former principal of Currado Insurance Agency. He sold his Allstate agency and retired in 2017 after 44 years, and has emerged from retirement after two …

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California Probing Facebook, Says Social Media Company Stonewalling

California revealed for the first time an 18-month investigation into Facebook Inc.’s privacy practices and accused the social media giant on Wednesday of hampering the probe by failing to turn over emails from Chief Executive Mark Zuckerberg. The revelation is …

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Vermont Farm Loses 2K Chicken and Turkeys in Flooding, Estimates $60K Loss

A Vermont farmer says he lost more than 2,000 chickens and turkeys when last week’s flood waters inundated their Richmond farm. Bruce Hennessey, of Maple Wind Farm, says they had moved the animals to higher ground prior to the storm …

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SEC Enforcement Activity Up From Last Year; One Case Affected 8,400 Investors

Enforcement activity by the U.S. Securities and Exchange Commission in fiscal 2019 resulted in $4.3 billion in fines and disgorgements, up from $3.9 billion a year earlier, the regulator said on Wednesday. Those fines and disgorgements – or the return …

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Bookkeeper Charged in Maryland with Embezzling $1M from Employers

A woman who worked as a bookkeeper has been charged in Maryland with fraudulently obtaining approximately $1 million from her employers. Lisa Fore was charged Monday in federal court with four counts of mail fraud and one count of aggravated …

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Imagining How Technology Might Transform Risks and Insurance by 2030

As 2019 wraps up, many in the insurance industry are likely well into planning for the next year. But what about planning for the next decade? While it can be difficult to predict what’s ahead in 10 years, industry professionals …

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Alera Group Acquires Business Assets of Pennsylvania’s HR inTune

Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm, has acquired the business assets of HR inTune, effective October 1, 2019. HR inTune, located in Berwyn, Penn., is a human resource consulting firm that …

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The Glatfelter Agency Hires Gormley as President of Pennsylvania Office

The Glatfelter Agency (TGA), a division of Glatfelter Insurance Group, has hired Sean Gormley as the new president of its downtown York, Penn., office. Gormley will focus on developing further growth in personal, business and commercial lines and managing carrier …

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Uber’s Self-Driving Car That Killed Pedestrian Lacked Tech to Detect Jaywalkers

Uber Technologies Inc.’s self-driving test car that struck and killed a pedestrian last year wasn’t programmed to recognize and react to jaywalkers, according to documents released by U.S. safety investigators. The U.S. National Transportation Safety Board on Tuesday released more …

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Changes at Top at Lockton: Clune to Become CEO; Ron Lockton to Chairman

Peter Clune will succeed Ron Lockton as chief executive officer at private global insurance broker Lockton, succeeding Ron Lockton who is taking on the role of chairman, effective May 1, 2020. Clune has been with Lockton for 13 years, most …

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Aviva U.K. Unit Dismisses Fears that ESG Investing Hampers Financial Returns

A major U.K. institutional investor has dismissed a commonly-held fear of ESG investing — that it hampers financial returns. Aviva UK Life, part of Aviva Plc, sees environmental, social and governance considerations as a central pillar of its risk and …

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Legacy Specialist Compre Buys 2nd Portfolio from Belgium’s AG Insurance

Compre, the London-based independent re/insurance legacy specialist, announced it has signed agreements to transfer an inwards reinsurance portfolio from AG Insurance SA for an undisclosed sum. The Belgian insurer’s portfolio comprises business in run-off across a range of lines and …

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French Search Teams Find Fragments of Airbus Engine that Exploded in Flight

French volunteer search teams have found fragments from an engine that exploded in mid-air over eastern France in July, officials said on Wednesday. The discovery came in an unprecedented search operation involving 150 members of the public after French air …

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China Pacific Eyes Swiss Re Stake but Real Target Might Be London Listing: Opinion

It’s a deal linking Shanghai and Zurich, but the real target looks to be London. China Pacific Insurance (Group) Co. is in talks to invest at least $2 billion in Swiss Re AG, Manuel Baigorri of Bloomberg News reported Wednesday, …

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The Aral Sea Is Dying — A Victim of Environmental Malpractice

The Aral Sea was once the world’s fourth largest inland lake. Today, it’s the epitome of environmental malpractice. More than 60 million people in six nations—Afghanistan, Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan—rely on the rivers leading to the Aral. In …

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EU Weighs Stress Tests to Improve Financial Firms’ Buffers Against Climate Risks

The European Commission is considering stress tests and measures to force financial firms to raise their buffers against climate-change risks, the EU financial services chief said on Wednesday. The move would represent a major change in the bloc’s climate policy …

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CSAA in California Names Vigus and Ummel Executive Vice Presidents

CSAA Insurance Group has named Ryan Vigus executive vice president, personal lines product, and Eric Ummel, executive vice president, commercial lines product. Vigus leads CSAA’s auto and home personal lines. His team develops and manages insurance products that serve the …

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Google Parent Company Investigating How Sexual Misconduct Claims Were Handled

The board of Google parent company Alphabet Inc. is investigating executives’ handling of sexual harassment and other misconduct claims, and expects to complete its probe by early December, according to a recent court filing. CNBC first reported the investigation on …

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Scores of U.S. Dams in Poor Condition Pose Danger to Thousands

On a cold morning last March, Kenny Angel got a frantic knock on his door. Two workers from a utility company in northern Nebraska had come with a stark warning: Get out of your house. Just a little over a …

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Swiss Re’s Kaplan Joins North Carolina-Based AmWINS Group

AmWINS Group, Inc., a global distributor of specialty insurance products and services, has named Alex Kaplan executive vice president for Alternative Risk. In his new role, Kaplan will lead a new strategy around the development of parametric solutions and other …

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Pioneer Programs Launches Targeted Violence Program

Pioneer Programs Insurance Solutions, LLC, has partnered with U.S.-based security leader 1st Watch Global and London-based EC3 Brokers to launch a new targeted violence program that combines comprehensive insurance coverage with risk management assessment. Backed by Lloyd’s capacity, the program …

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